Travel & Tourism: Economic Impact 2018 Caribbean

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TRAVEL & TOURISM

ECONOMIC IMPACT 2018


CARIBBEAN
ECONOMIC
IMPACT 2018

“Inclusive growth and ensuring a future


with quality jobs are the concerns of
governments everywhere. Travel &
Tourism, which already supports one in
every ten jobs on the planet, is a dynamic
engine of employment opportunity.”
Gloria Guevara Manzo, President & CEO
World Travel & Tourism Council

For more information, please contact:


ROCHELLE TURNER | Research Director
rochelle.turner@wttc.org
FOREWORD

A
s one of the world’s largest economic sectors, Travel & Tourism
creates jobs, drives exports, and generates prosperity across the
world. In our annual analysis of the global economic impact of
Travel & Tourism, the sector is shown to account for 10.4% of
global GDP and 313 million jobs, or 9.9% of total employment, in 2017.

The right policy and investment decisions are only made with empirical
evidence. For over 25 years, the World Travel & Tourism Council (WTTC) has
been providing this evidence, quantifying the economic and employment
impact of Travel & Tourism. Our 2018 Annual Economic Reports cover 185
countries and 25 regions of the world, providing the necessary data on 2017
performance as well as unique 10-year forecasts on the sector’s potential.

2017 was one of the strongest years of GDP growth in a decade with
robust consumer spending worldwide. This global growth transferred again
into Travel & Tourism with the sector’s direct growth of 4.6% outpacing
THE ECONOMIC IMPACT the global economy for the seventh successive year. As in recent years,
OF GLOBAL TRAVEL & performance was particularly strong across Asia, but proving the sector’s
TOURISM resilience, 2017 also saw countries such as Tunisia, Turkey and Egypt that
had previously been devastated by the impacts of terrorist activity,
recover strongly.

10.4%
Travel & Tourism GDP as a
This power of resilience in Travel & Tourism will be much needed for
the many established Travel & Tourism destinations that were severly
impacted by natural disasters in 2017. While our data shows the extent
of these impacts and rates of recovery over the decade ahead, beyond
percentage of global GDP. just numbers, WTTC and its Members are working hard to support local
communities as they rebuild and recover.

Inclusive growth and ensuring a future with quality jobs are the concerns
of governments everywhere. Travel & Tourism, which already supports

4.6%
Direct Travel & Tourism GDP
one in every ten jobs on the planet, is a dynamic engine of employment
opportunity. Over the past ten years, one in five of all jobs created across
the world has been in the sector and, with the right regulatory conditions
and government support, nearly 100 million new jobs could be created over
growth in 2017. the decade ahead.

Over the longer term, forecast growth of the Travel & Tourism sector will
continue to be robust as millions more people are moved to travel to see

1 /10
the wonders of the world. Strong growth also requires strong management,
and WTTC will also continue to take a leadership role with destinations
to ensure that they are planning effectively and strategically for growth,
accounting for the needs of all stakeholders and using the most advanced
jobs are supported by Travel & technologies in the process.
Tourism. This is 9.9% of global
employment. WTTC is proud to continue to provide the evidence base required in order
to help both public and private bodies make the right decisions for the
future growth of a sustainable Travel & Tourism sector, and for the millions
of people who depend on it.

1 /5
of all global net jobs created in
last decade have been within the
Travel & Tourism sector.
Gloria Guevara Manzo
President & CEO

Cover: Jack Anstey, Unsplash


Inside cover: Derek Thomson, Unsplash

TRAVEL & TOURISM ECONOMIC IMPACT 2018


10

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12

13

14

15

16

17
CARIBBEAN
2018 ANNUAL RESEARCH: KEY FACTS 1
2018 FORECAST

GDP: DIRECT CONTRIBUTION


The direct contribution of Travel & Tourism to GDP was USD17.9bn (4.8% of total GDP) in 2017, and is forecast to rise by
3.2% in 2018, and to rise by 3.6% pa, from 2018-2028, to USD26.5bn (5.6% of total GDP) in 2028.

GDP: TOTAL CONTRIBUTION


The total contribution of Travel & Tourism to GDP was USD57.1bn (15.2% of GDP) in 2017, and is forecast to rise by 3.3%
in 2018, and to rise by 3.6% pa to USD84.0bn (17.8% of GDP) in 2028.

EMPLOYMENT: DIRECT CONTRIBUTION


In 2017 Travel & Tourism directly supported 758,000 jobs (4.3% of total employment). This is expected to rise by 2.8% in
2018 and rise by 2.2% pa to 965,000 jobs (5.1% of total employment) in 2028.

EMPLOYMENT: TOTAL CONTRIBUTION


In 2017, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry,
was 13.8% of total employment (2,434,000 jobs). This is expected to rise by 2.8% in 2018 to 2,502,000 jobs and rise by
2.0% pa to 3,041,000 jobs in 2028 (16.1% of total).

VISITOR EXPORTS
Visitor exports generated USD31.8bn (19.8% of total exports) in 2017. This is forecast to grow by 3.7% in 2018, and grow
by 3.9% pa, from 2018-2028, to USD48.5bn in 2028 (24.2% of total).

INVESTMENT
Travel & Tourism investment in 2017 was USD7.1bn, or 12.9% of total investment. It should rise by 4.1% in 2018, and rise by
3.6% pa over the next ten years to USD10.6bn in 2028 (14.6% of total).

1
All values are in constant 2017 prices & exchange rates

WORLD RANKING (OUT OF 13 REGIONS):


Relative importance of Travel & Tourism's total contribution to GDP

12 1 8 8
ABSOLUTE RELATIVE SIZE GROWTH LONG-TERM GROWTH
Size in 2017 Contribution to GDP in 2017 2018 forecast Forecast 2018-2028

TOTAL CONTRIBUTION OF BREAKDOWN OF TRAVEL & TOURISM'S TOTAL


TRAVEL & TOURISM TO GDP CONTRIBUTION TO GDP AND EMPLOYMENT 2017
2017 USDbn GDP (2017 USDbn)
90
11
80
70 28
60
50
18
40
EMPLOYMENT
30
758 ('000)
20 1,166
DIRECT
10 509
0 + INDIRECT
2018
2010

2014
2015
2013
2008
2009

2011
2012

2016
2017

2028
2028

+ INDUCED
DIRECT INDIRECT INDUCED
= TOTAL CONTRIBUTION OF TRAVEL & TOURISM

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 1


DEFINING THE ECONOMIC
CONTRIBUTION OF TRAVEL & TOURISM
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the
industry has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite Accounting
methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. But WTTC recognises that Travel &
Tourism's total contribution is much greater, and aims to capture its indirect and induced impacts through its annual research.

DIRECT
Travel & Tourism contribution

COMMODITIES
● Accommodation
● Transportation
● Entertainment
● Attractions
INDIRECT INDUCED TOTAL
INDUSTRIES Travel & Tourism contribution Travel & Tourism
● Accommodation services contribution (spending of direct and contribution
● Food & beverage services indirect employees)
● Retail Trade ● T&T investment spending
● Transportation services
● Cultural, sports & recreational ● Government collective T&T ● Food and beverages ● To GDP
services spending ● Recreation
● Clothing ● To employment
SOURCES OF SPENDING ● Impact of purchases from ● Housing
● Residents' domestic T&T suppliers ● Household goods
spending
● Businesses' domestic travel
spending
● Visitor exports
● Individual government T&T
spending

DIRECT CONTRIBUTION

The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular
country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending -
spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).

The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting,
of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with
tourists. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made
by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA: RMF 2008).

The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy. The ‘indirect’
contribution includes the GDP and jobs supported by:

● Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity
such as the purchase of new aircraft and construction of new hotels;

● Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the
‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort
area sanitation services, etc;

● Domestic purchases of goods and services by the sectors dealing directly with tourists – including, for example, purchases of food and
cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.

The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the
Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS
WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.

2 | WORLD TRAVEL & TOURISM COUNCIL


TRAVEL & TOURISM'S CONTRIBUTION
TO GDP1
The direct contribution of Travel & Tourism to GDP in 2017 was USD17.9bn (4.8% of GDP). This is forecast to rise by 3.2% to USD18.5bn in 2018.
This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation
services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by
tourists.

The direct contribution of Travel & Tourism to GDP is expected to grow by 3.6% pa to USD26.5bn (5.6% of GDP) by 2028.

CARIBBEAN: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP

CONSTANT 2017 USDBN % OF WHOLE ECONOMY GDP


30 6.0

25 5.0

20 4.0

15 3.0

10 2.0

5 1.0

0 0.0

2028
2009

2009
2008

2008
2028
2012
2013
2014

2016

2012

2014

2016
2010
2011

2015

2017
2018

2010

2011

2015

2017

2018
2013
2028

The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see
page 2) was USD57.1bn in 2017 (15.2% of GDP) and is expected to grow by 3.3% to USD59.0bn (15.4% of GDP) in 2018.

It is forecast to rise by 3.6% pa to USD84.0bn by 2028 (17.8% of GDP).

CARIBBEAN:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP


CONSTANT 2017 USDBN % OF WHOLE ECONOMY GDP

90 20.0

80 18.0

70 16.0
14.0
60
12.0
50
10.0
40
8.0
30
6.0
20 4.0
10 2.0
0 0.0
2017 2018 2028
2028
2028 2017 2018 2028

Direct Indirect Induced Direct Indirect Induced

1
All values are in constant 2017 prices & exchange rates

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 3


TRAVEL & TOURISM'S CONTRIBUTION
TO EMPLOYMENT

Travel & Tourism generated 758,000 jobs directly in 2017 (4.3% of total employment) and this is forecast to grow by 2.8% in 2018 to 779,000
(4.4% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.

By 2028, Travel & Tourism will account for 965,000 jobs directly, an increase of 2.2% pa over the next ten years.

CARIBBEAN: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

'000 JOBS % OF WHOLE ECONOMY EMPLOYMENT


1,200.0 6.0

1,000.0 5.0

800.0 4.0

600.0 3.0

400.0 2.0

200.0 1.0

0.0 0.0
2009
2008

2028
2012

2014

2016
2010
2011

2015

2017
2018
2013
2008
2009
2010
2011

2015

2018

2028
2012
2013

2017
2014

2016

2028
2028

The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced
income impacts, see page 2) was 2,434,000 jobs in 2017 (13.8% of total employment). This is forecast to rise by 2.8% in 2018 to 2,502,000 jobs
(14.0% of total employment).

By 2028, Travel & Tourism is forecast to support 3,041,000 jobs (16.1% of total employment), an increase of 2.0% pa over the period.

CARIBBEAN:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT


'000 JOBS % OF WHOLE ECONOMY EMPLOYMENT
3,500.0 18.0

3,000.0 16.0

14.0
2,500.0
12.0
2,000.0
10.0

1,500.0 8.0

6.0
1,000.0
4.0
500.0
2.0
0.0 0.0
2017 2018 2028
2028 2017 2018 2028
2028
Direct Indirect Induced Direct Indirect Induced

4 | WORLD TRAVEL & TOURISM COUNCIL


VISITOR EXPORTS AND INVESTMENT1

VISITOR EXPORTS

Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2017, Caribbean generated USD31.8bn
in visitor exports. In 2018, this is expected to grow by 3.7%, and the region is expected to attract 26,578,000 international tourist arrivals.

By 2028, international tourist arrivals are forecast to total 39,074,000, generating expenditure of USD48.5bn, an increase of 3.9% pa.

CARIBBEAN:VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS

CONSTANT 2017 USDBN mn FOREIGN VISITOR EXPORTS AS % OF TOTAL EXPORTS


60 45 30.0

40
50 25.0
35
40 30
20.0
25
30
20 15.0
20 15
10 10.0
10
5
5.0
0 0
2008
2009

2011

2015

2028
2012
2013

2017
2018
2014

2016
2010

2028

0.0
2009
2008

2028
2012

2014

2016
2010
2011

2015

2017
2018
2013

2028
FOREIGN VISITOR EXPORTS (LHS)
FOREIGN TOURIST ARRIVALS (RHS)

INVESTMENT
Travel & Tourism is expected to have attracted capital investment of USD7.1bn in 2017. This is expected to rise by 4.1% in 2018, and rise by
3.6% pa over the next ten years to USD10.6bn in 2028.

Travel & Tourism’s share of total national investment will rise from 13.1% in 2018 to 14.6% in 2028.

CARIBBEAN:CAPITAL INVESTMENT IN TRAVEL & TOURISM


CONSTANT 2017 USDBN % OF WHOLE ECONOMY INVESTMENT
12 16.0

14.0
10
12.0
8
10.0

6 8.0

6.0
4
4.0
2
2.0

0 0.0
2009
2008

2028
2012

2014

2016
2010
2011

2015

2017
2018
2013

2008
2009

2016
2010
2011

2015

2017
2018

2028
2012
2013
2014

2028
2028

1
All values are in constant 2017 prices & exchange rates

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 5


DIFFERENT COMPONENTS OF
TRAVEL & TOURISM1
CARIBBEAN
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
BUSINESS VS LEISURE, 2017 Leisure travel spending (inbound and domestic)
generated 89.1% of direct Travel & Tourism GDP in
Leisure 2017 (USD39.3bn) compared with 10.9% for business
spending travel spending (USD4.8bn).
89.1%
Leisure travel spending is expected to grow by 3.2% in
Business 2018 to USD40.5bn, and rise by 3.6% pa to USD57.6bn
spending in 2028.
10.9%
Business travel spending is expected to grow by 2.7%
in 2018 to USD4.9bn, and rise by 3.3% pa to USD6.8bn
in 2028.

CARIBBEAN
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
DOMESTIC VS FOREIGN, 2017 Domestic travel spending generated 27.8% of direct
Travel & Tourism GDP in 2017 compared with 72.2%
Foreign visitor
for visitor exports (ie foreign visitor spending or
spending
international tourism receipts).
72.2%
Domestic
Domestic travel spending is expected to grow by 1.7%
spending
in 2018 to USD12.5bn, and rise by 2.4% pa to
27.8% USD15.9bn in 2028.

Visitor exports are expected to grow by 3.7% in 2018


to USD33.0bn, and rise by 3.9% pa to USD48.5bn in
2028.

CARIBBEAN
BREAKDOWN OF TRAVEL & TOURISM'S
TOTAL CONTRIBUTION TO GDP, 2017 The Travel & Tourism industry contributes to GDP
Direct and employment in many ways as detailed on page 2.
31.4%
Induced

19.0%
The total contribution of Travel & Tourism to GDP
Indirect is three times greater than its direct contribution.
49.6% a
Indirect is the
sum of:
(a) Supply chain
34.0%
c b
(b) Investment
7.7%
(c) Government
collective
7.9%
1
All values are in constant 2017 prices & exchange rates

6 | WORLD TRAVEL & TOURISM COUNCIL


REGIONAL RANKINGS ABSOLUTE
CONTRIBUTION,2017

TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP (US$bn) CONTRIBUTION TO GDP (US$bn)
1 European Union 665.3 1 North East Asia 1864.0
2 North America 623.7 2 North America 1793.7
3 North East Asia 573.7 3 European Union 1786.7
4 South East Asia 135.8 4 Latin America 348.7
5 Latin America 127.4 5 South East Asia 329.5
6 South Asia 112.4 6 Other Europe 312.0
7 Other Europe 94.8 7 South Asia 281.6
8 Middle East 84.4 8 Middle East 224.2
9 Oceania 58.7 9 Oceania 200.4
10 Sub Saharan Africa 43.7 10 Sub Saharan Africa 116.9
11 North Africa 29.0 11 North Africa 60.8
12 Caribbean 17.9 12 Caribbean 57.1
13 Central Asia 3.4 13 Central Asia 10.7

TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT '000 jobs CONTRIBUTION TO EMPLOYMENT '000 jobs
1 North East Asia 30491.4 1 North East Asia 86965.0
2 South Asia 29755.6 2 South Asia 49931.3
3 South East Asia 14456.9 3 South East Asia 36309.0
4 European Union 11887.6 4 European Union 27304.3
5 North America 9938.4 5 North America 23825.8
6 Sub Saharan Africa 6789.3 6 Sub Saharan Africa 17204.4
7 Latin America 5711.8 7 Latin America 15778.2
8 Other Europe 2536.0 8 Other Europe 9314.0
9 North Africa 2507.4 9 North Africa 5566.5
10 Middle East 2344.1 10 Middle East 5528.2
11 Oceania 894.5 11 Caribbean 2433.8
12 Caribbean 758.0 12 Oceania 2426.7
13 Central Asia 383.2 13 Central Asia 1085.1

2017 2017
TRAVEL & TOURISM INVESTMENT (US$bn) VISITOR EXPORTS (US$bn)
1 North East Asia 217.8 1 European Union 453.4
2 North America 201.9 2 North East Asia 266.8
3 European Union 176.0 3 North America 240.3
4 South East Asia 48.8 4 South East Asia 135.6
5 South Asia 47.8 5 Middle East 92.3
6 Latin America 45.1 6 Other Europe 92.0
7 Middle East 44.2 7 Latin America 49.3
8 Other Europe 41.3 8 Oceania 43.7
9 Oceania 21.8 9 South Asia 36.9
10 Sub Saharan Africa 17.5 10 Caribbean 31.8
11 North Africa 10.7 11 Sub Saharan Africa 30.2
12 Caribbean 7.1 12 North Africa 18.5
13 Central Asia 2.3 13 Central Asia 2.7
The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
competing destinations as well as with the world average.

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 7


REGIONAL RANKINGS
RELATIVE CONTRIBUTION, 2017
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP % share CONTRIBUTION TO GDP % share
1 North Africa 5.2 1 Caribbean 15.2
2 South East Asia 4.9 2 Oceania 12.3
3 Caribbean 4.8 3 South East Asia 12.0
4 European Union 3.9 4 North Africa 10.9
5 Oceania 3.6 5 European Union 10.3
6 South Asia 3.6 6 North East Asia 9.5
7 Middle East 3.4 7 South Asia 8.9
8 Latin America 3.1 8 Middle East 8.9
9 North East Asia 2.9 9 Latin America 8.6
10 North America 2.8 10 Other Europe 8.1
11 Sub Saharan Africa 2.7 11 North America 8.1
12 Other Europe 2.5 12 Sub Saharan Africa 7.1
13 Central Asia 1.8 13 Central Asia 5.5

TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT % share CONTRIBUTION TO EMPLOYMENT % share
1 European Union 5.1 1 Caribbean 13.8
2 South East Asia 4.7 2 Oceania 12.7
3 Oceania 4.7 3 South East Asia 11.8
4 South Asia 4.5 4 European Union 11.7
5 North America 4.4 5 North America 10.6
6 North Africa 4.4 6 North East Asia 9.8
7 Caribbean 4.3 7 North Africa 9.8
8 North East Asia 3.4 8 Latin America 7.6
9 Middle East 3.1 9 South Asia 7.5
10 Latin America 2.8 10 Middle East 7.4
11 Sub Saharan Africa 2.3 11 Other Europe 6.5
12 Other Europe 1.8 12 Sub Saharan Africa 5.8
13 Central Asia 1.5 13 Central Asia 4.2

2017 2017
TRAVEL & TOURISM INVESTMENT % share VISITOR EXPORTS % share
1 Caribbean 12.9 1 Caribbean 19.8
2 Middle East 7.4 2 North Africa 12.4
3 North Africa 6.9 3 Oceania 11.5
4 South East Asia 6.4 4 Sub Saharan Africa 8.5
5 Latin America 6.2 5 Middle East 8.5
6 South Asia 5.9 6 South East Asia 8.3
7 Oceania 5.8 7 North America 7.3
8 Sub Saharan Africa 5.2 8 Latin America 7.2
9 European Union 5.1 9 Other Europe 7.1
10 Central Asia 4.9 10 South Asia 6.3
11 North America 4.5 11 European Union 5.8
12 Other Europe 4.4 12 North East Asia 5.3
13 North East Asia 3.1 13 Central Asia 0.8

8 | WORLD TRAVEL & TOURISM COUNCIL


REGIONAL RANKINGS:
REAL GROWTH, 2018

TRAVEL & TOURISM'S DIRECT 2018 TRAVEL & TOURISM'S TOTAL 2018
CONTRIBUTION TO GDP % growth CONTRIBUTION TO GDP % growth

1 South Asia 7.2 1 South Asia 7.2


2 South East Asia 5.9 2 South East Asia 5.8
3 North East Asia 5.5 3 North East Asia 5.4
4 Middle East 4.5 4 Middle East 4.3
5 Sub Saharan Africa 4.2 5 Other Europe 3.9
6 Other Europe 4.2 6 Sub Saharan Africa 3.8
7 North Africa 3.6 7 North Africa 3.5
8 Oceania 3.6 8 Latin America 3.4
9 Latin America 3.4 9 Caribbean 3.3
10 North America 3.4 10 Oceania 3.2
11 Caribbean 3.2 11 North America 3.1
12 European Union 2.6 12 Central Asia 2.7
13 Central Asia 2.6 13 European Union 2.5

TRAVEL & TOURISM'S DIRECT 2018 TRAVEL & TOURISM'S TOTAL 2018
CONTRIBUTION TO EMPLOYMENT % growth CONTRIBUTION TO EMPLOYMENT % growth

1 Other Europe 3.8 1 South East Asia 3.3


2 South East Asia 3.3 2 Other Europe 3.3
3 Sub Saharan Africa 3.3 3 Sub Saharan Africa 3.2
4 North Africa 2.9 4 Middle East 3.1
5 South Asia 2.8 5 South Asia 3.0
6 Caribbean 2.8 6 North Africa 3.0
7 Latin America 2.5 7 North East Asia 3.0
8 North America 2.5 8 Caribbean 2.8
9 Middle East 2.4 9 Latin America 2.4
10 European Union 2.0 10 North America 2.4
11 Central Asia 1.6 11 European Union 1.8
12 North East Asia 1.5 12 Oceania 1.1
13 Oceania 1.5 13 Central Asia 0.0

TRAVEL & TOURISM INVESTMENT 2018 VISITOR EXPORTS 2018


CONTRIB TO TOTAL CAPITAL INVEST % growth CONTRIBUTION TO TOTAL EXPORTS % growth

1 South Asia 6.6 1 South Asia 7.7


2 North East Asia 5.6 2 Latin America 6.1
3 Middle East 5.4 3 South East Asia 6.0
4 South East Asia 5.4 4 Other Europe 5.3
5 Latin America 4.5 5 Middle East 4.4
6 North America 4.5 6 Sub Saharan Africa 4.2
7 European Union 4.5 7 Oceania 4.2
8 Caribbean 4.1 8 North America 4.0
9 Other Europe 3.5 9 North Africa 4.0
10 Central Asia 3.1 10 Caribbean 3.7
11 North Africa 2.7 11 European Union 3.4
12 Sub Saharan Africa 2.5 12 Central Asia 2.0
13 Oceania 1.2 13 North East Asia 1.9

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 9


REGIONAL RANKINGS:
LONG TERM GROWTH, 2018 - 2028

TRAVEL & TOURISM'S DIRECT 2018 - 2028 TRAVEL & TOURISM'S TOTAL 2018 - 2028
CONTRIBUTION TO GDP % growth pa CONTRIBUTION TO GDP % growth pa

1 South Asia 6.9 1 South Asia 6.7


2 North East Asia 5.6 2 North East Asia 5.6
3 South East Asia 5.5 3 South East Asia 5.5
4 Sub Saharan Africa 4.4 4 Middle East 4.6
5 Middle East 4.2 5 Sub Saharan Africa 4.4
6 Central Asia 4.2 6 Central Asia 4.0
7 Caribbean 3.6 7 North Africa 3.8
8 North Africa 3.6 8 Caribbean 3.6
9 Other Europe 3.4 9 Other Europe 3.2
10 Latin America 3.2 10 Latin America 3.2
11 Oceania 3.0 11 Oceania 2.9
12 North America 2.6 12 North America 2.5
13 European Union 2.3 13 European Union 2.0

TRAVEL & TOURISM'S DIRECT 2018 - 2028 TRAVEL & TOURISM'S TOTAL 2018 - 2028
CONTRIBUTION TO EMPLOYMENT % growth pa CONTRIBUTION TO EMPLOYMENT % growth pa

1 Sub Saharan Africa 3.0 1 North East Asia 3.3


2 South East Asia 3.0 2 Sub Saharan Africa 3.0
3 Central Asia 2.9 3 South East Asia 2.8
4 South Asia 2.2 4 Middle East 2.4
5 Middle East 2.2 5 South Asia 2.0
6 Other Europe 2.2 6 North America 2.0
7 Caribbean 2.2 7 Latin America 2.0
8 Latin America 2.1 8 Caribbean 2.0
9 Oceania 1.9 9 North Africa 2.0
10 North Africa 1.9 10 Oceania 1.9
11 North America 1.9 11 Other Europe 1.7
12 North East Asia 1.8 12 Central Asia 1.2
13 European Union 1.6 13 European Union 1.1

TRAVEL & TOURISM INVESTMENT 2018 - 2028 VISITOR EXPORTS 2018 - 2028
CONTRIBUTION TO CAPITAL INVEST % growth pa CONTRIBUTION TO EXPORTS % growth pa

1 South Asia 6.5 1 South Asia 5.7


2 Middle East 6.2 2 South East Asia 5.4
3 North East Asia 5.5 3 Middle East 5.3
4 South East Asia 5.4 4 Latin America 5.3
5 Sub Saharan Africa 4.7 5 Sub Saharan Africa 4.8
6 North Africa 4.5 6 Other Europe 4.5
7 Latin America 4.1 7 North Africa 3.9
8 Caribbean 3.6 8 Caribbean 3.9
9 Central Asia 3.5 9 Oceania 3.9
10 Other Europe 3.4 10 Central Asia 3.8
11 North America 3.1 11 North America 3.6
12 European Union 2.8 12 European Union 3.5
13 Oceania 2.4 13 North East Asia 3.5

10 | WORLD TRAVEL & TOURISM COUNCIL


SUMMARY TABLES:
ESTIMATES & FORECASTS
2017 2017 2018 2028
1 2 1
CARIBBEAN USDbn % of total Growth USDbn % of total Growth3
Direct contribution to GDP 17.9 4.8 3.2 26.5 5.6 3.6
Total contribution to GDP 57.1 15.2 3.3 84.0 17.8 3.6
4
Direct contribution to employment 758 4.3 2.8 965 5.1 2.2
4
Total contribution to employment 2,434 13.8 2.8 3,041 16.1 2.0
Visitor exports 31.8 19.8 3.7 48.5 24.2 3.9
Domestic spending 12.3 3.3 1.7 15.9 3.4 2.4
Leisure spending 39.3 4.2 3.2 57.6 4.9 3.6
Business spending 4.8 0.5 2.7 6.8 0.6 3.3
Capital investment 7.1 12.9 4.1 10.6 14.6 3.6
1 2 3 4
2017 constant prices & exchange rates; 2018 real growth adjusted for inflation (%); 2018-2028 annualised real growth adjusted for inflation (%); '000 jobs

2017 2017 2018 2028


AMERICAS USDbn1 % of total Growth2 USDbn1 % of total Growth3
Direct contribution to GDP 769.0 2.9 3.4 1,040.2 3.2 2.7
Total contribution to GDP 2,199.5 8.3 3.2 2,939.8 9.0 2.6
4
Direct contribution to employment 16,408 3.7 2.5 20,442 4.1 2.0
4
Total contribution to employment 42,038 9.4 2.4 52,385 10.5 2.0
Visitor exports 321.4 7.8 4.3 491.7 8.4 3.9
Domestic spending 1,179.1 4.4 3.0 1,544.4 4.7 2.4
Leisure spending 1,107.3 2.1 3.4 1,556.1 2.4 3.1
Business spending 393.1 0.7 2.8 480.1 0.7 1.7
Capital investment 254.2 4.8 4.5 367.9 5.5 3.3
1
2017 constant prices & exchange rates; 22018 real growth adjusted for inflation (%); 32018-2028 annualised real growth adjusted for inflation (%); 4'000 jobs

2017 2017 2018 2028


1
WORLDWIDE USDbn % of total Growth 2
USDbn1 % of total Growth3
Direct contribution to GDP 2,570.1 3.2 4.0 3,890.0 3.6 3.8
Total contribution to GDP 8,272.3 10.4 4.0 12,450.1 11.7 3.8
Direct contribution to employment4 118,454 3.8 2.4 150,139 4.2 2.2
4
Total contribution to employment 313,221 9.9 3.0 413,556 11.6 2.5
Visitor exports 1,494.2 6.5 3.9 2,311.4 6.9 4.1
Domestic spending 3,970.5 5.0 4.1 6,051.5 5.8 3.9
Leisure spending 4,233.3 2.5 4.1 6,605.3 2.8 4.1
Business spending 1,230.6 0.7 3.8 1,756.1 0.8 3.2
Capital investment 882.4 4.5 4.8 1,408.3 5.1 4.3
1
2017 constant prices & exchange rates; 22018 real growth adjusted for inflation (%); 32018-2028 annualised real growth adjusted for inflation (%); 4'000 jobs

% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and services.
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 11


THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM: REAL 2017 PRICES
CARIBBEAN

(USDbn, real 2017 prices) 2012 2013 2014 2015 2016 2017 2018E 2028F

1. Visitor exports 25.4 26.6 28.0 29.6 31.2 31.8 33.0 48.5

Domestic expenditure
2. 11.6 11.8 12.0 12.2 12.3 12.3 12.5 15.9
(includes government individual spending)

3. Internal tourism consumption


37.0 38.4 40.0 41.8 43.5 44.1 45.4 64.4
(= 1 + 2 )

4. Purchases by tourism providers,


including imported goods -22.3 -23.0 -23.9 -24.8 -25.8 -26.1 -26.9 -37.9
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP 14.8 15.4 16.1 17.0 17.7 17.9 18.5 26.5
(= 3 + 4)

Other final impacts


(indirect & induced) 17.0 17.8 18.8 19.8 20.6 20.9 21.5 30.8
6. Domestic supply chain

7. Capital investment 5.6 5.9 6.1 6.7 7.0 7.1 7.4 10.6

8. Government collective spending 4.5 4.6 4.7 4.7 4.8 4.9 5.0 6.5

Imported goods from indirect


9. -3.8 -4.1 -5.0 -4.3 -4.4 -4.5 -4.7 -6.0
spending

10. Induced 8.7 9.1 9.4 10.3 10.7 10.8 11.2 15.7

11. Total contribution of


Travel & Tourism to GDP 46.8 48.7 50.0 54.3 56.3 57.1 59.0 84.0
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & 642.0 658.8 680.5 714.2 735.6 758.0 779.4 964.7
Tourism to employment

Total contribution of Travel &


13. 2,025.5 2,090.4 2,117.7 2,295.7 2,367.0 2,433.8 2,501.9 3,041.3
Tourism to employment

Other indicators
7.4 7.4 7.8 8.1 8.7 9.0 9.2 12.5
14. Expenditure on outbound travel

12 | WORLD TRAVEL & TOURISM COUNCIL


THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM: NOMINAL PRICES
CARIBBEAN

(USDbn, nominal prices) 2012 2013 2014 2015 2016 2017 2018E 2028F

1. Visitor exports 24.9 26.1 27.6 29.2 30.6 31.8 33.8 62.6

Domestic expenditure
2. 11.2 11.5 11.8 12.0 12.1 12.3 12.9 20.8
(includes government individual spending)

3. Internal tourism consumption


36.1 37.6 39.5 41.2 42.7 44.1 46.6 83.5
(= 1 + 2 )

4. Purchases by tourism providers,


including imported goods -21.8 -22.5 -23.6 -24.5 -25.3 -26.1 -27.6 -21.8
(supply chain)

5. Direct contribution of
Travel & Tourism to GDP 14.4 15.1 15.9 16.8 17.4 17.9 19.0 34.3
(= 3 + 4)

Other final impacts


(indirect & induced) 16.6 17.4 18.5 19.5 20.2 20.9 22.1 40.0
6. Domestic supply chain

7. Capital investment 5.3 5.6 6.0 6.6 6.8 7.1 7.6 13.9

8. Government collective spending 4.4 4.5 4.6 4.6 4.7 4.9 5.1 8.5

Imported goods from indirect


9. -3.6 -3.9 -4.9 -4.2 -4.3 -4.5 -4.8 -7.8
spending

10. Induced 8.4 8.9 9.2 10.1 10.5 10.8 11.5 20.4

11. Total contribution of


Travel & Tourism to GDP 45.6 47.6 49.3 53.3 55.3 57.1 60.5 109.1
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & 642.0 658.8 680.5 714.2 735.6 758.0 779.4 964.7
Tourism to employment

Total contribution of Travel &


13. 2,025.5 2,090.4 2,117.7 2,295.7 2,367.0 2,433.8 2,501.9 3,041.3
Tourism to employment

Other indicators
7.2 7.1 7.6 7.9 8.4 9.0 9.5 16.9
14. Expenditure on outbound travel

*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the
European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism
Organization (UNWTO).

Historical data for concepts has been benchmarked to match reported TSA data where available.

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 13


THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM: GROWTH
CARIBBEAN
2
Growth1 (%) 2012 2013 2014 2015 2016 2017 2018E 2028F

1. Visitor exports 2.3 4.5 5.4 5.6 5.3 2.1 3.7 3.9

Domestic expenditure
2. 1.8 2.1 1.6 1.9 0.4 -0.3 1.7 2.4
(includes government individual spending)

3. Internal tourism consumption


2.1 3.8 4.2 4.5 3.9 1.4 3.1 3.5
(= 1 + 2 )

4. Purchases by tourism providers,


including imported goods 2.3 3.3 3.9 3.9 3.8 1.5 3.1 3.5
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP 1.9 4.4 4.8 5.3 4.0 1.3 3.2 3.6
(= 3 + 4)

Other final impacts


(indirect & induced) 1.2 4.6 5.6 5.4 4.0 1.4 3.2 3.7
6. Domestic supply chain

7. Capital investment 4.9 4.7 4.6 10.1 3.1 2.5 4.1 3.6

8. Government collective spending -0.2 2.0 1.2 1.8 1.5 1.1 2.5 2.7

Imported goods from indirect


9. -17.1 7.9 23.6 -13.8 2.3 2.6 2.8 2.6
spending

10. Induced 5.7 4.8 2.9 10.1 3.8 1.4 3.2 3.4

11. Total contribution of


Travel & Tourism to GDP 4.4 4.0 2.8 8.4 3.8 1.4 3.3 3.6
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & 1.8 2.6 3.3 5.0 3.0 3.1 2.8 2.2
Tourism to employment

Total contribution of Travel &


13. 4.7 3.2 1.3 8.4 3.1 2.8 2.8 2.0
Tourism to employment

Other indicators
1.5 -0.4 5.9 4.2 6.8 3.5 2.6 3.1
14. Expenditure on outbound travel

1 2
2012-2017 real annual growth adjusted for inflation (%); 2018-2028 annualised real growth adjusted for inflation (%)

14 | WORLD TRAVEL & TOURISM COUNCIL


GLOSSARY
KEY DEFINITIONS
TRAVEL & TOURISM INTERNAL TOURISM CONSUMPTION
Relates to the activity of travellers on trips outside their Total revenue generated within a country by industries that deal
usual environment with a duration of less than one year. directly with tourists including visitor exports, domestic spending
Economic activity related to all aspects of such trips is and government individual spending. This does not include
measured within the research. spending abroad by residents. This is consistent with total internal
tourism expenditure in table 4 of the TSA: RMF 2008.
DIRECT CONTRIBUTION TO GDP
GDP generated by industries that deal directly with BUSINESS TRAVEL & TOURISM SPENDING
tourists, including hotels, travel agents, airlines and other Spending on business travel within a country by residents and
passenger transport services, as well as the activities of international visitors.
restaurant and leisure industries that deal directly with
tourists. It is equivalent to total internal Travel & Tourism LEISURE TRAVEL & TOURISM SPENDING
spending (see below) within a country less the purchases Spending on leisure travel within a country by residents and
made by those industries (including imports). In terms international visitors.
of the UN’s Tourism Satellite Account methodology it is
consistent with total GDP calculated in table 6 of the TSA: INDIRECT AND INDUCED IMPACTS
RMF 2008.
INDIRECT CONTRIBUTION
DIRECT CONTRIBUTION TO EMPLOYMENT The contribution to GDP and jobs of the following three factors:
The number of direct jobs within Travel & Tourism. This is
consistent with total employment calculated in table 7 of • CAPITAL INVESTMENT: Includes capital investment
the TSA: RMF 2008. spending by all industries directly involved in Travel &
Tourism. This also constitutes investment spending by other
TOTAL CONTRIBUTION TO GDP industries on specific tourism assets such as new visitor
GDP generated directly by the Travel & Tourism sector plus accommodation and passenger transport equipment, as
its indirect and induced impacts (see below). well as restaurants and leisure facilities for specific tourism
use. This is consistent with total tourism gross fixed capital
TOTAL CONTRIBUTION TO EMPLOYMENT formation in table 8 of the TSA: RMF 2008.
The number of jobs generated directly in the Travel
& Tourism sector plus the indirect and induced • GOVERNMENT COLLECTIVE SPENDING: Government
contributions (see below). spending in support of general tourism activity. This can
include national as well as regional and local government
DIRECT SPENDING IMPACTS spending. For example, it includes tourism promotion, visitor
information services, administrative services and other public
VISITOR EXPORTS services. This is consistent with total collective tourism
Spending within the country by international tourists consumption in table 9 of TSA: RMF 2008.
for both business and leisure trips, including spending
on transport, but excluding international spending on • SUPPLY-CHAIN EFFECTS: Purchases of domestic goods
education. This is consistent with total inbound tourism and services directly by different industries within Travel &
expenditure in table 1 of the TSA: RMF 2008. Tourism as inputs to their final tourism output.

DOMESTIC TRAVEL & TOURISM SPENDING INDUCED CONTRIBUTION


Spending within a country by that country’s residents for The broader contribution to GDP and employment of spending by
both business and leisure trips. Multi-use consumer durables those who are directly or indirectly employed by Travel & Tourism.
are not included since they are not purchased solely for
tourism purposes. This is consistent with total domestic OTHER INDICATORS
tourism expenditure in table 2 of the TSA: RMF 2008.
Outbound spending by residents abroad is not included OUTBOUND EXPENDITURE
here, but is separately identified according to the TSA: RMF Spending outside the country by residents on all trips abroad.
2008 (see below). This is fully aligned with total outbound tourism expenditure in
table 3 of the TSA: RMF 2008.
GOVERNMENT INDIVIDUAL SPENDING
Spending by government on Travel & Tourism services FOREIGN VISITOR ARRIVALS
directly linked to visitors, such as cultural services (eg The number of arrivals of foreign visitors, including same-day and
museums) or recreational services (eg national parks). overnight visitors (tourists) to the country.

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 15


METHODOLOGICAL NOTE
WTTC has an on-going commitment to align its economic impact research with the UN Statistics Division-approved 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA:RMF 2008). This involves the benchmarking of country reports to official,
published TSAs, including for countries which are reporting data for the first time, as well as existing countries reporting an additional
year’s data. New country TSAs incorporated this year include Bulgaria, Hungary, Portugal and Vietnam, bringing our total of countries in our
benchmarking dataset to 58. Furthermore, we have sourced updated TSAs for 26 countries.

WTTC coverage includes data on 185 countries and reports on 25 other regions, sub-regions and economic and geographic groups. This
year, there are 10 reports for special economic and geographic groups.

ECONOMIC AND GEOGRAPHIC GROUPS

APEC (ASIA-PACIFIC ECONOMIC COOPERATION) (OIC) ORGANISATION FOR ISLAMIC COOPERATION**


Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Albania, Algeria, Azerbaijan, Bahrain, Bangladesh, Benin, Brunei
South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Darussalam, Burkina Faso, Cameroon, Chad, Comoros, Egypt,
Peru, Philippines, Russian Federation, Singapore, Taiwan, Thailand, Gabon, Gambia, Guinea, Guyana, Indonesia, Iran, Iraq, Ivory
USA, Vietnam. Coast, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Libya,
Malaysia, Maldives, Mali, Morocco, Mozambique, Niger, Nigeria,
FORMER NETHERLANDS ANTILLES Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Sierra Leone, Sudan,
Bonaire, Curacao, Sint Maarten, Saba and Sint Eustatius. Suriname, Syria, Tajikistan, Togo, Tunisia, Turkey, UAE, Uganda,
Uzbekistan, Yemen.
G20
Argentina, Australia, Brazil, Canada, China, European Union, OTHER OCEANIA
France*, Germany*, India, Indonesia, Italy*, Japan, Mexico, Russian American Samoa, Cook Islands, French Polynesia, Guam, Marshall
Federation, Saudi Arabia, South Africa, South Korea, Turkey, UK*, Islands, Micronesia (Federated States of), New Caledonia, Niue,
USA. Northern Mariana Islands, Palau, Samoa, Tuvalu.

GCC (GULF COOPERATION COUNCIL) PACIFIC ALLIANCE


Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE. Chile, Colombia, Mexico, Peru.

OAS (ORGANIZATION OF AMERICAN STATES) SADC (SOUTHERN AFRICAN DEVELOPMENT COMMUNITY)


Argentina, Antigua and Barbuda, Bahamas, Barbados, Belize, Bolivia, Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho,
Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Dominican Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles,
Republic, Dominica, Ecuador, El Salvador, Grenada, Guatemala, South Africa, Swaziland, Tanzania, Zambia, Zimbabwe.
Guyana, Haiti, Honduras, Jamaica, Mexico, St Kitts and Nevis,
Nicaragua, Panama, Paraguay, Peru, St Lucia, St Vincent and the
Grenadines, Suriname, Trinidad and Tobago, USA, Uruguay.

OECD (ORGANISATION FOR ECONOMIC CO-OPERATION AND


DEVELOPMENT)
Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark,
Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland,
Israel, Italy, Japan, South Korea, Luxembourg, Mexico, Netherlands,
New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia,
Spain, Sweden, Switzerland, Turkey, UK, USA.

* included in European Union


** no data for Afghanistan, Djibouti, Guinea-Bissau, Mauritania, Palestine, Somalia or Turkmenistan

16 | WORLD TRAVEL & TOURISM COUNCIL


ECONOMIC IMPACT REPORTS
REGIONS, SUB REGIONS &COUNTRIES
WORLD

SUB-REGION
SUB REGION

SUB REGION

SUB REGION
REGION

REGION
REGION

REGION
COUNTRY COUNTRY COUNTRY COUNTRY

Algeria Anguilla China Hungary


NORTH AFRICA

Egypt Antigua and Barbuda Hong Kong Ireland

NORTHEAST ASIA
Libya Aruba Japan Italy
Morocco Bahamas South Korea
Latvia
Tunisia Macau
Barbados Lithuania
Angola Mongolia
Bermuda Luxembourg
Taiwan

EUROPEAN UNION
Benin
British Virgin Islands Malta
Kazakhstan

CENTRAL ASIA
Botswana
Cayman Islands Netherlands
Burkina Faso Kyrgyzstan
Cuba Poland
Burundi Tajikistan
Dominica Portugal
Cameroon Uzbekistan
CARIBBEAN

Dominican Republic Romania


Australia
Cape Verde
Former Netherland Antillies Fiji Slovakia
Central African Republic
Grenada Kiribati Slovenia
Chad
Guadeloupe New Zealand Spain
OCEANIA

Comoros
Haiti Papua New Guinea Sweden
Congo

EUROPE
ASIA-PACIFIC

Jamaica Solomon Islands UK


Cote d'Ivoire
Martinique Tonga Albania
Democratic Republic of Congo
Puerto Rico Vanuatu Armenia
Ethiopia
Other Oceanic States
Gabon St Kitts and Nevis Azerbaijan
Bangladesh
Gambia St Lucia Belarus
India
SOUTH ASIA

Ghana St Vincent and the Grenadines Bosnia and Herzegovina


Maldives
AMERICAS

Guinea Trinidad and Tobago Georgia


AFRICA

Nepal
Kenya US Virgin Islands Iceland
OTHER EUROPE

Pakistan
Lesotho
SUB-SAHARAN

Argentina Macedonia
Sri Lanka
Madagascar Belize Moldova
Brunei Darussalam
Malawi Bolivia Montenegro
Cambodia
Mali
SOUTHEAST ASIA (ASEAN)

Brazil Indonesia Norway


Mauritius
Chile Laos Russian Federation
Mozambique
Colombia Malaysia Serbia
Namibia
Costa Rica Myanmar Switzerland
Niger
Ecuador Philippines Turkey
LATIN AMERICA

Nigeria
El Salvador Singapore Ukraine
Reunion
Guatemala Thailand Bahrain
Rwanda
Vietnam
Guyana Iran
Sao Tome and Principe Austria
Honduras Iraq
Senegal Belgium
Nicaragua Israel
Seychelles Bulgaria
Panama Jordan
Sierra Leone
MIDDLE EAST

Croatia
Paraguay
EUROPEAN UNION

Kuwait
South Africa Cyprus
EUROPE

Peru Lebanon
Sudan and South Sudan Czech Republic
Swaziland Suriname Oman
Denmark
Tanzania Uruguay Qatar
Estonia
Togo Venezuela Finland Saudi Arabia

Uganda Canada France Syria


AMERICA
NORTH

Zambia Mexico Germany United Arab Emirates

Zimbabwe USA Greece Yemen

TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 17


The World Travel & Tourism Council is the global authority on the economic and social contribution of
Travel & Tourism.

WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to
drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading private sector
Travel & Tourism businesses.

Together with Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors,
supporting over 307 million jobs and generating 10.4% of global GDP in 2017. Comprehensive reports quantify, compare and forecast the
economic impact of Travel & Tourism on 185 economies around the world. In addition to the individual country reports, WTTC produces a
world report highlighting global trends and 24 further reports that focus on regions, sub-regions and economic and geographic groups.

To download reports or data, please visit www.wttc.org

Assisting WTTC to Provide Tools for Analysis, Benchmarking, Forecasting and Planning.

Oxford Economics is a leader in global forecasting and quantitative analysis. Our worldwide client base comprises more than 1,500 international
corporations, financial institutions, government organisations, and universities. Headquartered in Oxford, with offices around the world, we
employ 300 people, including 200 economists and analysts. Our best-of-class global economic and industry models and analytical tools give us
an unmatched ability to forecast external market trends and assess their economic, social and business impact.

For more information, visit www.oxfordeconomics.com

Contributing data to the WTTC Economic Impact Model

STR is the source for premium hotel data benchmarking, analytics and marketplace insights. STR provides data that is reliable, confidential,
accurate and actionable, and their comprehensive solutions empower clients to strategize and compete within their markets. The company’s
range of products includes data-driven solutions, thorough analytics and unrivalled marketplace insights, all built to fuel business growth and
help clients make better operational and financial decisions. STR maintains a presence in 15 countries and collects data for over 59,000 hotels
across 180 countries.

ForwardKeys analyses more than 17m flight booking transactions a day, drawing data from all the major global air reservation systems and
selected airlines and tour operators. This information is enhanced with further independent data sets, including flight search and official
government statistics, plus data science to paint a picture of who is travelling where and when. ForwardKeys’ analytics are used by traveller-
focussed businesses worldwide to monitor and anticipate traveller arrivals from a particular origin market at a specific time. This analysis
enables parties to anticipate the impact of events, better manage their staffing levels, fine tune supply requirements, adjust and measure the
effectiveness of their marketing efforts and anticipate future market trends.

18 | WORLD TRAVEL & TOURISM COUNCIL


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